Retirement policies and economic security for older people in Africa

Abstract

Abstract

Toward a comprehensive understanding of the needs of elderly Ghanaians

“…One way to address the health needs of elderly Ghanaians is to establish a state-subsidized national health-care insurance scheme to provide basic and preventive health services, regardless of income level, ability to pay, or prior labour force history (Darkwa, 1997 selected advanced surgical procedures. The government could use part of the accumulated surpluses of its statecontrolled monopsonies, such as the Cocoa Marketing Board to fund this program (Darkwa, 1997). Funding a near universal health care for the elderly from this source will be more consistent with the intended objective of the fund which was intended to use "surplus"cocoa money to subsidize the incomes of farmers.…”

Does the Privatization of Social security Make Sense for Developing Nations?

“…Even in countries with social insurance or provident fund schemes, most of the elderly population depend on economic support from their adult children (Darkwa, 1997;Peil, 1991;Sanda, 1987).…”

“…Even when adequately protected against inflation prior to disbursement, provident funds taken as a lump sum payment are very susceptible to inflation and are often spent within a few months or years (Darkwa, 1997). Singapore's provident fund is often held up as a model, but it too leaves retirees vulnerable to inflation after funds are withdrawn (Asher and Yong, 1997).…”

“…Today, a few developing countries such as Brazil cover most of the population, but much more typical even among the most affluent of the developing countries is coverage of approximately 50 per cent of the population. Low-income countries, such as those in sub-Saharan Africa, typically cover less than 10 per cent of the population, many of whom are government employees (Darkwa, 1997;Gruat, 1990).…”

“…Many experts argue that something needs to be done to strengthen these family support systems (Darkwa, 1997;Nyanguru et al, 1994). One option that deserves more attention than it has received is the social-assistance-based old-age pension.…”